London: The UK High Court has rejected the appeal of fugitive Indian businessman, Nirav Modi against extradition.
Modi was arrested in London in March 2019. He is in prison ever since. The extradition was approved by the UK Home Office on April 16.
Nirav Modi is wanted by the Central Bureau of Investigation (CBI) in the PNB fraud case and by the Enforcement Directorate (ED) for money laundering related to the PNB scam.
Meanwhile, the Enforcement Directorate (ED) seized the assets of three fugitive Indian billionaires, Vijay Mallya, Nirav Modi, and Mehul Choksi and transferred it to banks and the union government. ED had seized assets worth Rs.18,170.02 crore under the Prevention of Money Laundering Act (PMLA). It transferred Rs. 9371.17 crore to banks and the union government. The total amount defrauded by the three absconding businessmen is Rs 22,585.83 crore.